In order for the gain on the sale of a personal residence to be excluded under Sec.121,a replacement residence must be purchased within two years.

Name: In order for the gain on the sale of a personal residence to be excluded under Sec.121,a replacement residence must be purchased within two years.
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The gain on the sale of a personal residence can be excluded under Sec. 121 even if a replacement residence is not purchased within two years. There is no requirement to purchase a replacement residence.

In Order for the Gain on the Sale of a Personal